Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-20.30%
baseline attrition
Rally response
-15.63%
trims into rallies
when a holding rises +10%+
Top positions · 3
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IAUiShares Gold Trust | $397M | 50.9% | — | 0.8 yr |
| QXOQXO, Inc. | $259M | 33.1% | +43.4% | 1.3 yr |
| IBITiShares Bitcoin Trust ET | $125M | 16.0% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management66.9%$522M
Industrial - Distribution33.1%+18.9pp$259M
Country
US100.0%+85.8pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| QXO | $59M | +0.03B | 43.4% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $781M | 3 | +49.85% | +17.59% | +32.26% | +0.06B |
| 2025-12-31 | $785M | 5 | +47.67% | +17.72% | +29.95% | -0.33B |
| 2025-09-30 | $935M | 7 | +13.85% | +10.97% | +2.88% | +0.10B |
| 2025-06-30 | $842M | 6 | +42.27% | +11.54% | +30.73% | +0.27B |
| 2025-03-31 | $418M | 3 | +2.04% | +8.20% | -6.16% | +0.41B |
| 2023-09-30 | $5M | 2 | +1.69% | +21.57% | -19.88% | -0.02B |
| 2023-06-30 | $23M | 2 | -0.40% | +19.42% | -19.83% | -0.05B |
| 2023-03-31 | $57M | 5 | -59.89% | -7.82% | -52.07% | +0.01B |
| 2022-12-31 | $51M | 3 | -9.26% | +7.56% | -16.82% | -0.02B |
| 2022-09-30 | $76M | 5 | -10.00% | -4.93% | -5.07% | +0.02B |
| 2022-06-30 | $68M | 4 | -50.00% | -16.11% | -33.89% | -0.09B |
| 2022-03-31 | $321M | 8 | — | — | — | -0.24B |
| 2021-12-31 | $556M | 9 | — | — | — | -0.49B |
| 2021-09-30 | $1.04B | 10 | — | — | — | -0.10B |
| 2021-06-30 | $1.14B | 11 | — | — | — | -0.28B |
| 2021-03-31 | $1.42B | 14 | — | — | — | -0.00B |